Phio Pharmaceuticals Announces Exercise of Warrants for $2.8M Gross Proceeds
Portfolio Pulse from Benzinga Newsdesk
Phio Pharmaceuticals has announced that warrants have been exercised, resulting in $2.8 million in gross proceeds for the company. This capital infusion could support the company's operations and development projects.
December 07, 2023 | 1:12 pm
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POSITIVE IMPACT
Phio Pharmaceuticals has raised $2.8 million through the exercise of warrants, which may positively impact its financial stability and support ongoing projects.
The exercise of warrants and the resulting $2.8 million in gross proceeds are likely to have a positive short-term impact on PHIO's stock price. This capital can be used to fund the company's operations and development projects, which may be viewed favorably by investors. The direct mention of the company and the financial nature of the news suggest a high relevance and importance to the company's financial health.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100